Lower financial literacy linked to crypto asset ownership – Bank of Canada

crypto-coins

Financial literacy is negatively associated with crypto asset ownership, according to a new report from the Bank of Canada.

The central bank’s latest cash and alternative asset survey reveals only a small percentage of Canadians own crypto assets (5%), though 85% had heard of them.

However, those with lower levels of financial understanding are more likely to own crypto assets, the central bank says. Data shows 8% of people classed as having low financial literacy say they own crypto assets

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